Monday, October 18, 2021

WB offers assistance in attracting foreign investment for 5mn housing project


ISLAMABAD: A World Bank (WB) delegation, headed by Vice President South Asia Hartwig Schafe called on Prime Minister Imran Khan and expressed its satisfaction over the Pakistan Tehreek-e-Insaf (PTI) led government’s economic policies, ARY News reported on Monday.

The WB delegation, while lauding the prime minister’s vision on the economic stability of the country and human development, offered to help the government transform its vision into reality.

The WB also offered its assistance in attracting foreign investment and funds for Naya Pakistan Housing Programme (NPHP).

The delegation said that the bank was ready to provide technical support to Pakistan in various sectors and sharing of expertise.

The delegation briefed the prime minister about various ongoing projects of the World Bank in different sectors including water supply, sewerage and waste management, transportation and connectivity, capacity building and ease of doing business in the country.

Read More: IMF and Pakistan to hold decisive talks on bailout package this month: sources


Other members of the delegation include dVice President Human Development Annete Dixon, Country Director Illangovan Patchamuthu, Operations Manager Melinda Good and Senior Country Manager IFC Nadeem Siddiqui. Special Assistant of Prime Minister on Political Affairs Naeem-ul-Haq, Secretary Finance Arif Ahmed Khan and others.

Welcoming the World Bank’s offer, Prime Minister Imran Khan said: “Pakistan looks forward to a greater partnership with World Bank in critical areas including eco-tourism, mountain and economic development in the country.”

He appreciated the bank’s continued engagement with Pakistan and its support towards capacity building, infrastructure development and economic growth.

Prime Minister Imran Khan welcomed the WB’s offer and said that Pakistan had become an ideal country for the foreign investors. He said that the development projects would bring prosperity and stability in the country.

It is pertinent to mention here that Pakistan and the International Monetary Fund (IMF) would soon reach to an agreement over the bailout package, sources at the Finance Ministry said on Monday.

The final talks on the package are expected as the new mission chief of IMF for Pakistan, Ernesto Ramirez Rigo is expected to arrive this month on March 26.

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